Leading cryptocurrency exchange Binance’s US entity has hired Sidney Majalya as its deputy general counsel and first chief risk officer. Majalya will join Binance.US in January. Majalya said in a statement,
“Binance.US is deeply committed to compliance, and our priority is to maintain and grow a world-class compliance and risk organization that earns the utmost confidence and trust of our customers, investors, and regulators.”
The former vice president, legal, and chief compliance officer of the largest US semiconductor maker Intel Corp. also worked at Uber Technologies before that. Majalya was in Uber’s legal compliance department before the company went public in 2019.
As Binance’s chief risk officer, Majalya will oversee compliance issues and expand its headcount.
Binance.US is “not a company where I have to come in and do convincing about the importance of compliance,” he said in an interview.
The exchange expects to raise a “couple hundred” million dollars in a funding round expected to close soon, shared Binance CEO Changpeng Zhao in a recent interview.
Brian Shronder, the Chief Executive Officer of Binance.US, also said in September that the exchange aims to go public in the next two to three years. Shroder, a former executive of Ant group and Uber, replaced Brian Brooks, a former Comptroller of the Currency (OCC), who resigned from his position in just four months, citing “differences over strategic direction.”